Fuel Smarts

Diesel Prices Retreat From Four Straight Weekly Hikes

The price of diesel has done an about face, falling just slightly this week following four consecutive weekly declines.

The U.S. Energy Department reports the national average fell 0.6 cents in the past week, registering $3.909 per gallon. It gained about 10 cents during the four-week increase.

Compared to the same time a year ago the price is 5.9 cents per gallon higher.

Prices fell in most parts of the country. Exceptions were the Rocky Mountain region, where it increased 1.8 cents over the past week for an average of $3.931 per gallon, and the West Coast region, where a 0.2 cents per gallon rise made for an average of $4.054, the second highest priced region in the country.

Diesel ranges between a low of $3.841 in the Gulf Coast region, down 0.4 cents over the past week, to a high of $4.056 in the New England sub region of the East Coast, down 0.5 cents over the same time.

Likewise gasoline has fallen this week after increasing last week, dropping 1.4 cents for a national average of $3.632 per gallon. It's 1.3 cents lower than the same time last year.

Gasoline prices fell in all parts of the U.S., except for the Midwest region, where it gained 1.4 cents for an average of $3.589 gallon.

Gasoline ranges from a low of $3.446 per gallon, down 3.2 cents per gallon, to a high of $3.887 per gallon in the West Coast region, down 4.2 cents from last week.

The price of crude in New York trading on Monday fell 38 cents to $106.56 per barrel, but it's up just over $2 from its closing price a week earlier. It moved up last week on news that the world economy seemed to be slowly improving but fell Monday and on Friday on news that Libya will increase oil production.